Tejas Networks IPO
Tejas Networks IPO — date, price band, lot size & details 2017
Tejas Networks listed on 27 Jun 2017 at ₹257, flat to the ₹257 issue price.
Tejas Networks is a Bangalore based optical and data networking products company selling to telecom operators, internet providers, utilities, defence and government in India and over 60 countries. Its total income was Rs 865.34 crore in FY2017.
Stock price
Tejas Networks is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 14 Jun 2017
- Close 16 Jun 2017
- Allotment 21 Jun 2017
- Refund/credit 22 Jun 2017
- Listing 27 Jun 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 14 to 16 Jun, 2017 |
|---|---|
| Price Band | ₹250 – ₹257 |
| Face Value | ₹10 |
| Lot Size | 55 Shares |
| Issue Size | ₹776.69 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,135 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 55 shares at the ₹257 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 55 | ₹14,135 |
| Retail (max) | 14 | 770 | ₹1,97,890 |
| S-HNI (min) | 15 | 825 | ₹2,12,025 |
| S-HNI (max) | 70 | 3,850 | ₹9,89,450 |
| B-HNI (min) | 71 | 3,905 | ₹10,03,585 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 385.83 crore in FY2015 to Rs 865.34 crore in FY2017.
- 02It turned a loss of Rs 16.56 crore in FY2015 into a profit of Rs 53.21 crore in FY2017.
- 03EBITDA rose from Rs 68.48 crore in FY2015 to Rs 165.03 crore in FY2017.
- 04It sells in India and over 60 countries.
Risks · 5
- 01It made a loss of Rs 16.56 crore in FY2015, so its profit record is short.
- 02Rs 303.00 crore of the issue was for working capital, as telecom customers pay slowly.
- 03Its income depends on a few telecom operators and government projects; total assets were Rs 908.17 crore.
- 04Rs 326.69 crore of the issue went to selling shareholders.
- 05It has no identifiable promoter, so control rests with institutional shareholders; net worth was Rs 500.00 crore.
Three years of numbers
All figures in ₹ crore, as reported in the Tejas Networks offer document.
| Metric | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|
| Assets | 908.17 | 835.90 | 712.61 |
| Total Income | 865.34 | 625.53 | 385.83 |
| Profit After Tax | 53.21 | 27.50 | -16.56 |
| EBITDA | 165.03 | 110.84 | 68.48 |
| NET Worth | 500.00 | 369.61 | 342.12 |
| Reserves and Surplus | 426.00 | 303.08 | 216.59 |
| Total Borrowing | - | 246.44 | 214.05 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹424.50 Cr of the issue is earmarked to named objects.
Tejas Networks IPO Anchor Investors
18 anchor investors across 8 fund houses committed ₹349.52 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It designs, develops and sells products to telecom service providers, internet service providers, utilities, defence companies and government bodies in India and over 60 countries.
Its products are used to build high speed networks carrying voice, data and video traffic.
The IPO was Rs 776.69 crore, with Rs 450.00 crore of fresh issue and Rs 326.69 crore of offer for sale, at Rs 257, the top of the Rs 250 to Rs 257 band. The fresh money was mainly for working capital and R&D.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Tejas Networks IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
37 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Tejas Networks?
The current Grey Market Premium is ₹7.5, or 3% over the issue price.
What is the Tejas Networks IPO price band?
₹250 to ₹257, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 June 2017, with listing on 27 June 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
